It?s official: Verizon finally buys Yahoo

Verizon closed its $4.48 billion purchase of Yahoo's core business
Tuesday, finalizing a deal mired by two massive hacks affecting more
than 1 billion Yahoo accounts and marking the latest play by telecoms to
challenge Silicon Valley's dominance in online advertising.

Under
a newly bolstered Verizon, Yahoo and AOL will combine as part of a new
media and technology company called Oath. The sale of Yahoo was first
announced last summer, with a $4.8 billion price tag. But just months
later, the company disclosed a series of data breaches
that compromised the personal information of potentially hundreds of
millions of people. Following the breaches, Yahoo and Verizon eventually
agreed to discount the purchase price by $350 million.